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Supports: 1.2355; 1.2294; 1.2211
Outlook
The downtrend, which started two days ago, managed to continue, and today the price confronts the weekly PP at 1.2355, which might slow down the prevailing tendency downwards. In case it fails to stop the movement downwards, then next support at 1.2294 (20-day SMA) is very likely to reverse the direction of the present movement. Additionally, RSI indicator shows neutral signal, and current resistances are at 1.2428, 1.2498 and 1.2543, and they seem to be secure at the particular moment.
Traders' sentiment
Traders at SWFX market anticipate that the Euro will gain value against the Canadian Dollar, as 75% of traders hold long positions and only 25% of traders hold short positions. In contrast, the situation with orders is rather neutral, since 45% of traders ordered to buy and 55% ordered to sell the single European currency.